has laid down a process for weeding out investments that do not meet human-rights standards, according to media reports (see coverage from
and the The Associated Press
). The Valley Forge, Pennsylvania also asked shareholders to reject a proposal put forward by activist group Investors Against Genocide, saying the proposal would duplicate the firm's fund-screening process.
Investors Against Genocide is urging Vanguard to offload holdings that it says are tied to China and genocide in Sudan.
Vanguard spokeswoman Linda Wolohan told the AP that six Vanguard funds retain "modest" holdings in the companies in question. She also said the new screening process being adopted by Vanguard "is the same in spirit" as the Investors Against Genocide proposal.
That proposal covers 30 funds, while Vanguard's policy applies to all 157 of its funds, according to the report.
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